Airline Creditors Must Pledge To Keep Trade Secrets

Law360 (January 11, 2006, 12:00 AM EST) -- Companies that serve on creditors’ committees for struggling airlines have been ordered to pledge not to expose confidential information they obtain during bankruptcy proceedings after a judge worried that companies may improperly use the information.

U.S. Bankruptcy Court Judge Allan Gropper mandated the pledges after expressing concern that companies that serve on more than one creditor’s committee may use information from one case to gain advantage in another.

The order applies to companies that serve on more than one airline industry creditor’s committee, including the Northwest...